This topic fits well with my new book. A majority of retired seniors live on a fixed income. They may bring in just enough every month to cover the costs of housing, food, utility bills, gas, medicine and healthcare deductibles. Unfortunately, out-of-control spending in Washington has increased the money supply and created historic levels of inflation. I know personally that my grocery expenses are 35-40% higher than they were in 2019. Gas is almost double, my property taxes and auto and home insurance premiums have both gone up and utility bills have increased.
For many seniors and elderly people, this has meant that their monthly assets will no longer cover monthly costs/expenses. St. Mary’s Food Bank in Phoenix has seen a spike in those needing help with food. They attribute this to the Washington-created inflation of the past 3 years. In this story by Channel 3 News in Phoenix, they discuss this new problems.
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